i'm julia chatterley. scarlet: and i'm scarlet fu. a: the jobs report for june. 2200 2000 jobs, -- -- 220,000jobs, jobs, the most in some time. something example of for just takes time discouraged workers to come into the workforce? this is not what i would have expected three or four years ago, that we have had this many jobs and not much inflation. i thought it was the goldilocks. cool,o warm and not too and that is what the markets are responding to today. julia: what about for the fed? >> they are as relaxed as you or i am right now. they could keep tightening. that could keep them in that direction, but because the inflation is not there on the wages, there is not much inflation anywhere. i think that will change. two years, six months, three years, we will get inflation at some point, but we have to get wages first and we not getting them so far. seen a: we have significant slowdown in the average yearly earnings over the past six months. >> it is like an elixir. the best thing that you can drink. you can have your cake and eat i

i'm julia chatterley. scarlet: i'm scarlet fu. welcome to "bloomberg markets." ve in bloomberg world headquarters over the next hour. here are the top stories we are covering on the bloomberg and around the world. the u.s. labor market coming into view ahead of the june jobs report expected tomorrow. as hiring has slowed, we will tell you why the skills gap could be to blame. global politics taking a violent turn in hamburg. thousands of protesters take to the streets ahead of president trump's key meeting with vladimir putin at the g 20 summit. not relations with russia the only concern at the g-20. eurasia group president ian bremmer based on the role of north korea's role in talks with china. one hour from the close of trading, let's get a check on markets with abigail doolittle. bonds and equities are down. abigail: we are certainly seeing solid selling pressure here for the major averages in the u.s., dow, s&p, nasdaq down half a percent, on pace for their worst day since last thursday. the nasdaq down the most. technology is not the worst sector. let's take

i'm julia chatterley.g companies shares slumped 14% after a warning about quarterly losses of as much as 1.8 billion dollars. noble group had less than zero value according to one short seller. earlier.o him i asked him if there is any value in this company remaining after the restructuring and selloffs discussed by the company in the last 48 hours. to be fair,not, but i have not tried to model out the cash flow or really do analysis on this company. what i said previously was that i suspect a more sober look at agreements and other contracts would yield a value below zero. -- wethink the company ing up tong toward tru that, but i don't know if we will ever true up to that level. at the end of the day, liquidity is going to determine how long this company survives. julia: jpmorgan has $1.5 billion of debt coming to you over the next year. systemice this as a issue, potentially? you have looked at all lamb, noble group. , noble group. somebody owns those funds. do you see the potential for a follow here?mic

julie: i am julia chatterley.dman sachs is reviewing its commodities business after slump in the first half of the year. the performance is said to be off to the worst start in a decade. joining us is michael moore. great to have you on. they have always said it is going to recover. other banks have dropped out of the sector. is this a structural change? are they just talking about a business that is struggling? >> it could be both. certainly, i think the question of whether it is a structural change is more front and center. the bet was it would come back in there would be fewer people around and they would grab more of the share. that has not happened so far. if you look at the industry last year in 2016, revenues from commodities were about half of what they were in 2010. 2007 was even better than that before then. this business has been on a steady decline. there are less opportunities because of regulations that have come into play. i think that is spurring this review. is personal for lloyd blankfein because

in london, i'm julia chatterley . rkets. ♪ julia: we're live and bloomberg world headquarters in new york over the next hour. here are stories we're covering on the bloomberg and around the world. considering an investment stake in sprint. especially diluting ishares, fighting on the news. the u.s. economy giving the fed more reason to go slow. , droppingnged in june unexpectedly for a second month. , loan growth. and one hour from the close of trading, a check with markets. it is the financials. julie: trading on a record on a closing basis as is the dow jones transportation average. 18% below the 20 day average for the s&p 500. these new highs not necessarily being confirmed by strong volumes. the financials down .5%. technology also strong as we've seen a winning streak. consumer staples are strong like health care. that weak spot. bond trading revenue that has been lagging as well. in the case of vols fargo, it has to do with auto loan originations, falling by nearly half. all of that pushing down the big banks tha

i am julia chatterley. scarlet: i am scarlet fu. let's head to julie hyman. taking a look at retail today. the retail etf that we track -- it is up about 0.6% today, helped in part by stronger than estimated earnings report from companies like monroe muffler. we are watching shares of sears, trading higher in a decided fashion, up 12%. sears has been battered of late, over the last several years, so it is something of a rebound from that. also on the news that sears will be selling its kenmore appliances on amazon.com. sears used to be the largest seller of appliances. they gave up that title to some rivals like lowe's and home depot, so they are falling on this news. whirlpool is also falling. it makes computing appliances. we don't have market share data specifically on what the control of the appliance market looks like, but one interesting window into it. if you can run splc on your bloomberg, you get this data in terms of what percentage of whirlpool sales come from the various retailers. lowe's is the number one client of whirlpool with 6% of sales, and

i'm julia chatterley. scarlet: i'm scarlet fu. mberg markets." ♪ julia: we are life and bloomberg world headquarters in new york over the next hour. here are the top stories we're covering on the bloomberg and around the world. the u.s. economy getting back on the path to growth. grew in president trump's first full quarter as president. jim with the rebound means for the fed path half forward. the online real estate brokers join us next. and intel is bucking the pc trend with sales forecasts. we are told why the company's glory days aren't over yet. one hour from the close of trading, let's get a check on markets with julie hyman. thee: as we get closer to close of trading, we get closer to unchanged. the dow has been hovering at that level all day, bouncing between gains and losses. it touched an intraday record high today. lost, sos pairing is is the nasdaq. we have been watching individual movers. one of those that flew under the radar despite being a relatively big story is wells fargo. got lost in the earnings shuffle perhaps

julia: i'm julia chatterley.d i'm scarlet fu. welcome to "bloomberg markets." ♪ we are live in bloomberg world headquarters in new york, over the next hour, here are the top stories we're covering on the bloomberg and around the world. clock tickinghe for republicans to unite on a plan to repeal and replace obamacare. two republican senators are already known for the latest revised senate health care bill. and, syrian cease-fire in focus at donald trump's press conference with president macron in paris. and, a corporate news, slams on the brakes in russia. the ridesharing company is merging its operations there, marking its second major global retreat. we are one hour from the close of trading great let's get a check with julie. have stocks rallying, a modest rally but secondary rally during the second day of janet yellen's testimony, her comments yesterday were widely though theyish even didn't really seem on the surface at least to deviate from what she said before. we have ppi down and traders are watching clo

i'm julia chatterley. kevin: i'm kevin cirilli. owing you live shots the press briefing room. julia: we will get a briefing from sarah huckabee sanders, who has a new boss. kevin: sean spicer is out, wall street known person around town anthony scaramucci is in. how he meshes with the inside the beltway crowd will be fascinating. donald trumpia: himself. we will be talking more about that, but we start more with headlines with emma chandra. emma: the russian lawyer who met donald trump junior during the 20 campaign has represented a military unit operated by russia's intelligence agency. that's according to court filings obtained by the associated press. president trump's eldest son, son-in-law, and campaign manager met with her in june 2016, after trump jr. was told she could provide potentially incriminating and bit -- information about hillary clinton. it's official, the u.s. government is now banning citizens from traveling to north korea. it comes after the death of auto warmbier. -- otto he was in a coma when he was flown back

i'm julia chatterley. julie: let's take a look at notable movers.we have gained storing -- hitting a nine-year high after the company put up a andng second quarter interactive gains were very strong. the looks like the second half sales could benefit from lottery services. those taking national gaming up with the shares. have las vegas sands and mgm dated take up there growth gaining revenue estimate. the previous estimate had been 25%. if you recall, there was a long decline to last august. row andat 11 games in a it looks like july is set to make it 12. pretty interesting. take a look at the today chart and a pretty big decline for the shares of hasbro. sincee for the worst day 2008. the company missed second-quarter sales estimate. not in a big way. the weakness came from disappointing sales and play school and the easy bake segment line. drag.s the biggest average.f the 30 year it'sis yellow column, july. the s&p 500 has a tendency to pop higher and then drop. that is the s&p 500 this year. see little bit of drop this week. it could come later t

i'm julia chatterley. julie: and i'm julie hyman in for scarlet fu.bloomberg markets. ♪ we're live in a bloomberg world headquarters in new york. over the next hour, these are the stories we are covering in new york and around the world. tech shares rebound from last week's selloff. we will navigate you through the close of trading as earnings and janet yellen come into focus. computers on the lookout for potential chaos. and new jersey commuters on alert. and in banking, we have the earnings season. just add butter. let's get a check on markets. >> nothing to huge but we were lower earlier. you're probably pleased by the fact that we're looking at more positive training. the nasdaq really leading the way up .5%. let's look at one of the bigger stories on the day. the better path for them is to focus on rigorous execution of their business plan. the stock is down 85% from the peak back in 2008. comesst buy down 6%, this after earlier they said amazon is building its own geek squad in competition to best buy. we have maryland, and defend the shares of

colleague julia chatterley has more. joining us from san francisco is the muddy waters ceo and cofounder. great to have you on the show. you said it there when you left spoke to us but i want to use your words. do you think this is noble group finally coming clean? >> certainly i think all of the level three net fair value games, which accounting sleight of hand's that noble had been using the past few years, i think all of those have now been written down as zeros. cleansing.artial we have a lot of doubts about some of the other accounts such as the level to fair value games and i don't think we've seen those completely cleansed. but it's part of the process. we are seeing the wheels falling off here. part of it is a little bit bad, to be honest. this is a company that manipulated its accounts in my view for some years. this is the unwind. prettyit's taken some chunky provisions to be more conservative about their balance sheet, they are sticking out from the core assets. they are trying to sell their oil. the focus hop

i am julia chatterley. kevin: i'm kevin cirilli. julia: breaking news on utility companies.dropping plans for two nuclear reactors and succulent. -- in south carolina. let's give you a brief understanding of what the statement from the coming he said. in theluded it's not best interest of customers and stakeholders to continue construction of these, adding the costly uncertainty of availability of tax credits among others. you can see a brief spike in the share price, currently higher by 1.6%, although coming off the highs now. now a president trump counts the record run in the u.s. stock market as another economic indicator that is penning a slightly less rosy picture, that is the u.s. dollar. the bloomberg fx report is joining us now with details. talk to us about your report here. clearly if we look at a chart of the u.s. dollar, it has fallen 9% since november, so a tale of two half for u.s. assets. >> it looks that the u.s. market is betting against policy change. what we are seeing from the market here is that after the u.s. election and after donald trump was elected,

. ♪ julia: live from bloomberg's world headquarters in new york, i'm julia chatterley. arlet: i'm scarlet fu. joe: i'm joe weisenthal. 30 minutes from the close of trading here in the u.s.. julia: disappointing earnings shaking tech shares and the dollar lower on weaker gdp revisions. joe: the question is, "what'd you miss?" scarlet: north korea fires in confidentialt are -- north korea fires and intercontinental ballistic missile. it is tesla model three day. elon musk takes his affordable electric vehicle to the mass market today, meeting a critical deadline for his production target. julia: "what'd you miss?" intel reported second-quarter earnings, bucking the industry's decline. -- a gain of 9%. the company gave an upbeat forecast for the third quarter and annual revenues, too. i want to hand over to caroline who is in london and standing by -- intel's's cfo cfo. >> credit where credit is due, well done. let's get nitty-gritty. talk to me about pc numbers because your numbers showing a 12% increase. this is a declining market, no? bob: it is a declining market and we

. ♪ julia: live from bloomberg's world headquarters in new york, i julia chatterley. d i'm joe weisenthal. scarlet fu is on assignment and we are counting down to the julia: close of trading in the u.s.. u.s. stocks virtually unchanged after a politics related midday blitz. joe: the question is, what did you miss? julia: no rest for the weary. mitch mcconnell canceling the first two weeks of the august recess to tackle the gop's unfinished agenda. have a live interview with mark meadows of the house freedom caucus in the next hour. plus, new details on donald trump junior's emails, the dow jones -- one market is keeping one air open to politics. keeping one ear open to politics. abigail doolittle is standing by. abigail: another day of small moves for the major averages. we are looking at all major averages trading higher. the s&p 500 had been fractionally lower. at nasdaq leading the most this point, up .4%. it is not tell the complete story of the day. of course, we had the big headline that russia wanted to help the trump campaign. donald trump junior learned this t

. ♪ ♪ from bloomberg world headquarters, on julia chatterley. scarlet: i'm scarlet fu. i'm joe weisenthal. 30 minutes from the close of trading in the u.s. julia: u.s. stocks staying green and of the dollar weakens as the fed keeps options open. joe: the question is, "what'd you miss?" scarlet: when will the fed reduce their balance sheet, relatively soon. why it could not be the most concern. and sanctions on officials from venezuela today, why they are looking at taken a step toward that country that is rewriting its constitution. and a repeal on obamacare, we go to capitol hill for more details. ♪ isia: standing by for moore our national political reporter who joins us from capitol hill. explain what we are expecting, a straight repeal vote to be held in the senate. that is a deeply unpopular move, but i guess that have to be done at this stage. >> this is what republicans have been heading toward, they will be voting on a motion to try to essentially add some antiabortion restrictions, that would need 60 votes. that will not pass, so they will move on to a history o

i'm julia chatterley. scarlet: i'm scarlet fu. joe: i'm joe weisenthal. are 30 minutes from the close of trading in the u.s. julia: u.s. stocks going lower into the dollar sliding to an 11 month low. joe: the question is, "what'd you miss?" scarlet: mitch mcconnell repealing -- his repeal dead on arrival. where does it leave the republican agenda? barry diller says he is saddened by what has happened in washington, but he is looking for -- in the u.s. and ibm reports after the bell, can they demonstrate a shift away from the legacy businesses, clout and cybersecurity? -- cloud and cybersecurity? julia: looking at where the major averages stand. abigail is standing by. abigail: exciting stuff. small moves for the major averages going into the close, but for the nasdaq, moments ago it did put in an all-time high, the first time since june 9. it is on pace to finish at a record close. if it happens, the first time since june 9 as well. you will guess technology is doing pretty well today, that is the case. look at the dow down slightly, about 3/10 of 1%. s&p

. ♪ julia: i'm julia chatterley. what did you miss?ike looking at the bond markets in the last couple of weeks. the blue line issuing the 210 year spread. if you look on the right-hand side of your screen, you see that tiny flick higher which is what we have seen, it and it has lifted the financials. take a step back and look at the white line and what that is showing you is positioning. it shows you 10 year positioning. what that is saying as far as positioning is concerned, the lower that line comes, the less likely we are to be steepening. this is suggesting flatter curves, not steeper. and i am looking at investor positioning in gold. this is aggregate positioning. shooting up at the same time as gold itself, the blue line doing very ugly these days. higher rates, all that stuff is but anyprecious metals sort of repricing, perhaps the central banks are not going to be as dovish. was.: how low gold next, we talked to about the market close. less than 10 minutes before the markets wrap up. stay with us. we will be discussing next. th

i am julia chatterley. scarlet: and i am scarlet fu.'re looking at e- sports, on track to become a $1 billion industry. activision blizzard announced a cell of its franchise, the overwatch league. one of the buyers is the new england patriots owner robert kraft. emily chang joins us with more. emily: thanks. bob and bobby, thank you for joining us. great to have you today. bobby, is is being touted as the next nfl, compared to the premier league of the future. what is your vision for this? is that for real? >> yeah, that is our vision for how we are to celebrate and reward our players, build a league that is like the nfl, only global. it may take sometime, but what will make it easy is having great partners like robert kraft. emily: bob, do you think this can become that -- with celery caps, trade, and the other stuff with it? along -- with salary caps? >> we love the infrastructure that bobby has set up at activision blizzard. we have looked at a lot of with? -- with salary caps? >> the league to watch with having 30 point. players at

. ♪ julia: live from bloomberg world in new york, im julia chatterley. e: and i aim joe weisenthal. scarlet fu is off today. we're counting down to the close of trading. julia: financials under pressure. industrials, too. joe: but the question is "what'd you miss?" spicer is out and anthony scaramucci is in after a shakeup at the white house. >> i love this country. i love the president. it is an honor to be here. julia: the nation's greatest lenders are raking and $30 billion, -- raking i and $30 billion, just shy of 2006 levels. and investors may have a new away fromstay pakistan. we explain. joe: abigail doolittle is standing by. >> things, joe. we are looking at small declines heading into the close. ,e have the dow, the s&p 500 and the nasdaq all lower on the day. the nasdaq headed toward weekly gains. the dow is headed toward a weekly decline. noting this is the first day in for we do not have a record high for any of the major averages. at oppenheimer, one analyst is encouraged by the number of synchronized runs. he is a technical analyst and he ha

i'm julia chatterley. i am scarlet fu. joe: it i am joe weisenthal. to welcome you on twitter. scarlet: we begin with our market minute. major indexes for equities. red arrows all around, and we are looking at losses of more than 1% -- at least to just at 1% for the nasdaq. we came off the close. the lowest level for the s&p since mid-may. the dow losing 155 points. i look at sector groups, even utilities, a safe haven, the best performing group is still down .1%. insurance companies off, materials, and again, these are the best performers. the big losers are the telecom stocks. safe havens, cyclicals, it doesn't matter which way you slice or dice it, they are down. joe: everything is getting slammed, and that is the theme of our market minute. scarlet: microsoft a loser. amga.s part of the f .7 5%. announcing job cuts, mostly in sales outside the u.s., but it did notify workers today. on pharmaceuticals is under investigation by the department of health and human services. we don't know why. tesla trading at the lowest level since may 23. now down fo

julia: and i'm julia chatterley from washington.rspective on the debate over health care and the failure of senate republicans to get a new bill. president trump exposing his frustration over the impasse. failrump: let obamacare and i think we are in that decision where we will let obamacare fail. we are not going to own it. the republicans are not going to own it. we will let obamacare fail and the democrats will come to us and say how do we fix it or how do we come up with a new plan? mike: joining us now is kelly of pennsylvania, a member of the house ways and means committee. he voted in favor of the house plan to repeal and replace obamacare. a huge blow to the gop today and its failure to agree on health care bill. do you believe mitch mcconnell can pull together the notes were a straight repeal and do it in the coming weeks? guest: we are going to find out but i think the disappointment is across america right now. folks whothe same voted to repeal obamacare and all of a sudden, they have lost their way. if you take a vote th

julia: and i'm julia chatterley.bloomberg markets. ♪ scarlet: we are live at bloomberg world headquarters in new york over the next hour. here are the top stories we are covering from around the world and on the bloomberg. in politics, two hours 16 minutes. that is how long the meeting between donald trump and vladimir putin lasted in homburg, germany. it ended with a cease-fire announcement in syria. in economic news, mixed signals from the jobs report, with a gain in payrolls but weaker wage growth. the chairman of ever core isi says the job rate will decline to 3.5% by the end of the year. is bracing for chaos as amtrak begins track work at penn station. the maros

i'm julia chatterley.loomberg markets." ♪ scarlet: we are live at bloomberg world headquarters in new york over the next hour. here are the top stories we are covering from around the world and on the bloomberg. a muted start to earnings season optimism banks, as surrounding trump's election starts to fade. and frustration with washington stealing the spotlight on jp morning -- jp morgan turning salt -- earnings call, saying it almost and -- embarrassment to the american abroad. gas companylian already overtaking fossil fuels. u.s. markets are closing in two hours time, let's get a check on the record high once again. seeingre

i'm julia chatterley. >> on kevin cirilli. david in for gura today. acare or cut taxes. -- agree onappeal either. we look at how losses pile up amid the political drama. and john kelly's first day on the job. he arrives at the white house facing a herd task of restoring order could he will have one advantage that reince priebus never did. -- backing of of ont of ivanka trump and jared kushner. ♪ julia: after the collapse of the obamacare repeal, republicans may have to choose securing another health bill or pushing through a tax overhaul this year because there is simply not en

. >> and julia saturday -- i'm julia chatterley.mberg markets. >> where life bloomberg headquarters in new york over the next hour. you're the top stories we are covering. --ks like kkr's story preparing for i think with its leaders, no longer at the helm americans almost -- we will tell you will from wall street >> amazon filed a trademark here. this new public company -- growing investors skepticism. more stay on a could is broadly, record the once again. jul

. >> i am julia chatterley.o bloomberg markets. ♪ ♪ we are live in bloomberg world headquarters in new york. the top stories we're covering around the world and on the bloomberg. politics, the probe into potential collusion between donald trump's campaign and russia. our exclusive reporting details how a special counsel and the fbi are looking at everything from real estate to bank transactions. another obstacle to the president's agenda. the cbo projects the senate republican bill to repeal and replace obamacare would increase the number of uninsured americans by 22 million in a decade. and european central bank president mario draghi calling for patientce as he central bank holds on unwinding back stimulus. bill gross is sounding the alarm on the go slow policy of central banks. he will be joining us next. julia? julia:

julia: and i'm julia chatterley.mberg markets. ♪ scarlet: we are live on bloomberg world headquarters in new york over the next hour. here are the top stories we are covering from around the world and on the bloomberg. let's start with markets. tech stocks are recovering slightly. -- gives usaying his investment playbook. in politics, tensions running high on the streets of hamburg as the g-20 summit takes center stage. resident donald trump meeting with angela merkel earlier, and now getting the chance to meet with russia's vladimir putin. and billionaire john malone set toes interactive is put hsm under one roof in a 1.3 billion dollars deal -- $1.3 billion deal. when it comes to market, it is not just tech stocks.

julia: i'm julia chatterley.oomberg markets. ♪ we are live at bloomberg world headquarters in new york over the next hour. here are the top stories we are covering from around the world and the bloomberg. politics, turmoil in the white house and on capitol hill. the republican plan to repeal and replace obamacare collapses in the senate. meanwhile, new communications director anthony scaramucci putting his rivalries on display. and uber to drive change just enough. the former ceo is on the short list in what is likely to be classified as a divided board room. and a potential regulatory changes smoking the tobacco industry. the fda plans to cut the level of nicotine to nonaddictive levels. shares of big tobacco getting taken down along with it. let's get a

. ♪ live from bloomberg's world headquarters in new york, i'm julia chatterley. arlet: i'm scarlet fu. joe: we are 30 minutes from close of trading. julia: the s&p hitting new highs as inflation and retail sales disappoint. u.s. financials post earnings. joe: the question is, what did you miss? overet: optimism financials starting to fade. it shares lower after earnings. joining us at the close. and as the senate revised health bill destined for the rewrite? we will hear from jay inslee for his take on health care and the travel ban. york yankees managing partner speaking exclusively about aaron judge, and why he's not looking to sell the franchise anytime soon. julia: a lowdown on the market as we head toward the close. abigail, happy friday. and weeat friday it is have records and risk on both the down the s&p 500. it is on pace for its record closing high. the risk appetite. that testimony to congress many are perceiving to be as dovish. these are a few of the stocks trading at record highs. helping to explain why the down the s&p 500 have been able to do that.

julia: and i am julia chatterley.o "bloomberg markets." ♪ scarlet: we are live in bloomberg world headquarters in new york over the next hour. here are the top stories we are covering around the world and on the bloomberg. health care clash on the hill. senate majority leader mitch mcconnell plans to sway holdouts. you want your from republican senator -- we will hear from republican senator richard shelby. in markets, an all-time high due in part to another event on capitol hill. before congress, janet yellen maintaining her stance that the fed will not rush to tighten policy. and target getting a bump after seeing sales will likely increase this quarter. --fany's turnaround efforts is it enough to get investors hunting for bargains?

i'm julia chatterley. scarlet: i'm scarlet fu. bloomberg markets. ♪ julia: we're live and bloomberg world headquarters in new york. over the hour, here are the top stories we're covering. in politics, uproar over donald trump junior's controversial 2016 meeting with a russian lawyer after he released a string of emails. of thetions correspondence and the encounter ahead. meanwhile, the email drama fueled a trading blitz earlier. the response to recent political tensions show traders are still taking some cues from washington. more findings and the annual report ahead. and we go to the close of trading, let's get a check on markets with julie hyman. i called it a blitz. julie: that is a fair description. when the enough skin out, we saw stocks go down and then recover. pointing out earlier, traders are watching the events out of washington. how much they react to them is another question depending on what exactly is happening. the volume has gone up and has come back down, below the 20 day average. there is a lot of back draft to t

. ♪ julia: live from bloomberg world headquarters in new york, i'm julia chatterley.carlet: i'm scarlet fu. joe: i'm joe weisenthal, 30 minutes from close of trading. data later this week, and all eyes on the white house once again. joe: the question is, "what'd you miss?" anthony scaramucci has been removed as communications director. the u.s. dollar falling under hard times. we look atbetting -- how losses pile up amid political turmoil. the world's most valuable company by market cap reports earnings tomorrow after the bell. investors are looking to pass we guidance and the longer term upside for apple's new iphone. miss? what'd you anthony scaramucci's brief tenure, president trump removed -- let's bring in our white house correspondent. and joining us, congressional .eporter in the d.c. bureau it is the shortest length of time that someone was in role of communications at the white house? nothing is regular in this administration. >> it is certainly high drama. but retired general john kelly's first job on chief of staff, he seems to have decided a little bit of

i'm julia chatterley. scarlet: i'm scarlet fu. weisenthal.want to welcome you to our closing bell coverage. we begin with our market minutes, the dow jones closing at a record high. as we mentioned earlier with dow transports also hovering near those highs, that is a good sign for equities. the two indexes confirming each other, showing that recent gains are sustainable. you can see the s&p ending higher by almost five points, .nd nasdaq climbing 2/10 of 1% when you look at the breakdown of equities -- and a lot of this was on the heels of janet yellen's day to testimony, where she stuck to her message, dovish, and no real rush to raise interest rates area -- raise interest rates. the big laggards are telecom of 1%, andby 6/10 that is after bank of america merrill lynch downgraded at&t to neutral. that is one drag on the major indexes. in terms of individual movers, neil gorsuch, the steelmaker -- nucor, the steelmaker, finishing at a high since early may. jumping after president trump saying he is considering both quotas and tariffs on steel

i'm julia chatterley. commodity markets are closing in new york.etting hit hard today, snapping an eight day winning streak. we are closing at the lows of the session, down 4.2% at this moment. russia is set to oppose any proposal to deepen opec led production cuts. we will get more data tomorrow when the u.s. releases its latest inventory report. natural gas futures led to a that isth low today -- driving down demand for powerplant fuel. .75%.ome thre no clear direction for gold futures, despite the tension over the north korean missile test. yenks rising and the slipping for now. scarlet: a major shift for volvo. the swedish automaker is now owned by a chinese billionaire -- every new model launched in 2019 and beyond will have an electric motor. tesla says deliveries have flat lined this quarter -- joining us with coverage on both of these stories from detroit is jamie butters. let's start with what's going on with volvo. shift to hybrid and electric cars, there will be some compromise when it comes to margin. what kind of cost compromises will

julia: live from bloomberg's world headquarters in new york, i am julia chatterley. scarlet: i'm scarlet fu. joe: and i'm joe weisenthal. we are 30 minutes from the close of trading in the u.s. the question is, what'd you miss? special counsel robert mueller's investigation widens beyond the trump campaign to examine russian purchases of apartments and the miss universe pageant. mario draghi stressed the need to be persistent and patient in winding back stimulus. slow and steady i.t. spending. that is what we are expecting from microsoft quarterly earnings. paypal and ebay also announce results after the bell. thea: let's get a look at major averages, down as we head toward the close. abigail doolittle is standing by. abigail: the moves may be small, but we are looking at records for the s&p 500, the nasdaq, and even the dow. second on pace for a record closing high in a row. the dow transports on the bottom down at about .8%. clearly, the odd index out about four days in a row. let's take a look at the intraday chart in the bloomberg. compositethe nasdaq index, up a

i'm julia chatterley. it's time for options inside. julie? my guest is from macro risk advisors. will be talking energy and oil, which sort of made a brief attempt to get is head above water this week and came right back down again. you have been a rare on the options segment. i'm guessing nothing changes your view about the direction of oil going down? >> we viewed the price rally exiting last week and this week as an opportunity to reengage in selling strategies. beenhesis year to date has oil and the rates market are encased in what we call a negative feedback loop. in order for the markets to correct the oil market you need to constrain access to capital. as oil continues to go down, it's pressuring cpi and making it tough for the fed to make its dual mandate. so, that negative feedback loop perpetuates and continues to pressure the markets. until we see that assert itself, arguably with commodities in the this vicious think cycle will play out and they will remain bearish. julie: i'm curious. even as rates remain low -- giving them access to capital, it may be cheap capital,